Edgewell個人護理出售女性護理業務後 第三季持續經營溢利跌逾四成

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 UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________________________
FORM 10-Q
_______________________________
☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2026
or

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______________ to _______________

Commission File Number: 001-15401
____________________________________________________________________________________________________________

EDGEWELL PERSONAL CARE COMPANY
(Exact name of registrant as specified in its charter)
Missouri43-1863181
(State or other jurisdiction of incorporation or organization)(I. R. S. Employer Identification No.)

6 Research Drive(203)944-5500
Shelton,CT06484(Registrant’s telephone number, including area code)
(Address of principal executive offices) (zip code)

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading symbol(s)Name of each exchange on which registered
Common Stock, par value $0.01 per shareEPCNew York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).  Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated 

filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer☒Accelerated filer☐

Non-accelerated filer☐Smaller reporting company☐

Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  Yes ☐ No ☒
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: 
Common shares, $0.01 par value - 46,088,915 shares as of July 31, 2026.

Forward-Looking Statements
This Quarterly Report on Form 10-Q contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by or on behalf of Edgewell Personal Care Company or any of our businesses (the “Company”). These forward-looking statements include, but are not limited to, statements concerning our expectations regarding our future results of operations and financial condition; capital expenditures; our restructuring and productivity initiatives; our strategy; impacts from the divestiture of our Feminine Care segment; our potential eligibility for refunds of tariffs previously paid under the International Emergency Economic Powers Act; the effect of macroeconomic factors, including supply chain disruptions, tariffs and inflationary pressures and conflicts or acts of war (such as the conflict in the Middle East); anticipated trends, seasonality, and challenges in our business and in the markets in which we operate. Additional forward-looking statements may appear throughout this report, including, without limitation, the following sections: Management’s Discussion and Analysis, Risk Factors, and the Notes to the Condensed Consolidated Financial Statements. Forward-looking statements generally can be identified by the use of words or phrases such as “believe,” “expect,” “expectation,” “anticipate,” “may,” “could,” “intend,” “estimate,” “plan,” “target,” “predict,” “likely,” “will,” “should,” “forecast,” “outlook,” “strategy,” or other similar words or phrases. These statements are not based on historical facts, but instead reflect our expectations, estimates or projections concerning future results or events, including, without limitation, the future earnings and performance of the Company or any of our businesses. Many factors outside our control could affect the realization of these estimates. These statements are not guarantees of performance and are inherently subject to known and unknown risks, uncertainties and assumptions that are difficult to predict and could cause our actual results to differ materially from those indicated by those statements. We cannot assure you that any of our expectations, estimates or projections will be achieved. The forward-looking statements included in this report are only made as of the date of this report, and we disclaim any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances, except as required by law. You should not place undue reliance on these statements. Factors that could cause fluctuations in our actual results include, but are not limited to, the following:
•our ability to compete in products and prices, as well as costs, in an intensely competitive industry;
•the loss of any of our principal customers or changes in the policies of our principal customers;
•our inability to design and execute a successful omnichannel strategy;
•our ability to attract, retain and develop key personnel;
•fluctuations in the price and supply of raw materials and costs of labor, warehousing and transportation;
•the impact of seasonal volatility on our sales, financial performance, working capital requirements and cash flow;
•the ability to successfully manage evolving global financial risks, including tariffs, foreign currency fluctuations, currency exchange or pricing controls and localized volatility;
•impacts from any loss of our principal customers or changes in the policies or strategies of our customers;
•our level of indebtedness and the various covenants related thereto, and to generate sufficient income and cash flow to allow the Company to effect the expected share repurchases and dividend payment;
•our failure to maintain our brands’ reputation and successfully respond to changing consumer habits; and perceptions of certain ingredients, negative perceptions of packaging, lack of recyclability or other environmental attributes;
•our access to capital markets and borrowing capacity;
•impairment of our goodwill and other intangible assets;
•the ability to successfully manage the financial, legal, reputational and operational risks associated with third-party relationships, such as our suppliers, contract manufacturers, distributors, contractors and external business partners;
•the ability to manage disruption of business due to various factors, including ones outside of our control, such as natural disasters, conflicts or acts of war (such as the conflict in the Middle East), terrorism or disease outbreaks;
•risks associated with our international operations;

•our ability to effectively integrate acquired companies and successfully manage divestiture activities;
•our ability to successfully implement our cost savings initiatives, including rationalization or restructuring efforts;
•the ability to rely on and maintain key Company and third-party information and operational technology systems, networks and services and maintain the security and functionality of such systems, networks and services and the data contained therein;
•the ability to successfully achieve, maintain or adjust our environmental or sustainability goals and priorities;
•the ability to successfully manage current and expanding regulatory and legal requirements and matters (including, without limitation, those laws and regulations involving product liability, product and packaging composition, manufacturing processes, intellectual property, labor and employment, antitrust, privacy, cybersecurity and data protection, artificial intelligence, tax, the environment, due diligence, risk oversight, accounting and financial reporting) and to resolve new and pending matters within current estimates;
•the ability to adequately protect our intellectual property rights;
•product quality and safety issues, including recalls and product liability; 
•losses or increased funding and expenses related to our pension plans; and
•the other important factors described in our Annual Report on Form 10-K for the fiscal year ended September 30, 2025 (“2025 Annual Report”) under Part I. Item 1A. “Risk Factors,” and in our other filings with the Securities and Exchange Commission (“SEC”)

In addition, other risks and uncertainties not presently known to us or that we presently consider immaterial could significantly affect the forward-looking statements. The list of factors above is illustrative, but not exhaustive. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. Additional risks and uncertainties include those detailed from time to time in our publicly filed documents, including in Item 1A. Risk Factors of Part I of our 2025 Annual Report.

EDGEWELL PERSONAL CARE COMPANY
INDEX TO FORM 10-Q

PART I.FINANCIAL INFORMATION

Item 1.Financial Statements

Condensed Consolidated Statements of Earnings and Comprehensive Income for the three and nine months ended June 30, 2026 and 2025
6

Condensed Consolidated Balance Sheets as of June 30, 2026 and September 30, 2025
7

Condensed Consolidated Statements of Cash Flows for the nine months ended June 30, 2026 and 2025
8

Condensed Consolidated Statements of Changes in Shareholders’ Equity for the three and nine months ended June 30, 2026 and 2025
9

Notes to Condensed Consolidated Financial Statements
11

Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations
31

Item 3.Quantitative and Qualitative Disclosures About Market Risk
12

Item 4.Controls and Procedures
12

PART II.OTHER INFORMATION

Item 1.Legal Proceedings
13

Item 1A.Risk Factors
13

Item 2.Unregistered Sales of Equity Securities and Use of Proceeds
13

Item 5.Other Information
13

Item 6.Exhibits
14

SIGNATURE
15

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements.

EDGEWELL PERSONAL CARE COMPANY
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME
(unaudited, in millions, except per share data)

Three Months Ended
June 30,Nine Months Ended
June 30,
2026202520262025
Net sales$570.1 $560.4 $1,512.4 $1,492.1 
Cost of products sold327.6 310.3 892.0 832.7 
Gross profit242.5 250.1 620.4 659.4 
  
Selling, general and administrative expense108.3 100.7 321.7 303.1 
Advertising and sales promotion expense83.2 76.0 187.4 182.0 
Research and development expense13.3 13.5 42.0 40.2 
Restructuring charges12.7 14.9 44.8 30.9 

Operating income25.0 45.0 24.5 103.2 
Interest expense associated with debt16.7 19.4 53.9 58.4 
Other income, net(9.7)(2.9)(18.4)(2.3)
Earnings (loss) from continuing operations before income taxes18.0 28.5 (11.0)47.1 
Income tax provision on continuing operations5.7 7.0 1.9 15.0 
Net earnings (loss) from continuing operations12.3 21.5 (12.9)32.1 
Earnings (loss) from discontinued operations, net of tax1.4 7.6 (49.7)23.9 
Net earnings (loss)$13.7 $29.1 $(62.6)$56.0 
  
Basic earnings (loss) per share
Continuing operations$0.27 $0.46 $(0.28)$0.67 
Discontinued operations0.03 0.16 (1.07)0.50 
Basic earnings (loss) per share$0.30 $0.62 $(1.35)$1.17 
  
Diluted earnings (loss) per share
Continuing operations$0.26 $0.46 $(0.28)$0.67 
Discontinued operations0.03 0.16 (1.07)0.50 
Diluted earnings (loss) per share$0.29 $0.62 $(1.35)$1.17 
  
Weighted-average shares outstanding:
Basic46.1 46.8 46.4 47.8 
Diluted46.6 47.0 46.4 48.0 
   
Statements of Comprehensive Income:
Net earnings (loss)$13.7 $29.1 $(62.6)$56.0 
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments(1.6)53.5 (10.4)28.2 

Pension and postretirement activity, net of tax provision of $0.2, $0.1 $0.5 and $0.4 
0.4 0.5 1.3 1.2 
Deferred gain (loss) on hedging activity, net of tax provision (benefit) of $0.6, $(1.6), $1.7 and $(0.6)
1.1 (3.7)3.8 (1.5)

Total other comprehensive income (loss), net of tax(0.1)50.3 (5.3)27.9 
Total comprehensive income (loss)$13.6 $79.4 $(67.9)$83.9 

See accompanying Notes to Condensed Consolidated Financial Statements.

EDGEWELL PERSONAL CARE COMPANY
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited, in millions, except share data)

June 30, 2026September 30, 2025
Assets
Current assets
Cash and cash equivalents$397.1 $225.7 
Trade receivables, less allowance for doubtful accounts of $2.8 and $4.8
119.4 137.8 
Inventories433.0 433.8 
Other current assets162.5 138.6 
Current assets held for sale— 59.6 
Total current assets1,112.0 995.5 
Property, plant and equipment, net292.7 295.0 
Goodwill1,134.0 1,137.1 
Other intangible assets, net806.4 828.2 
Other assets190.3 178.7 
Non-current assets held for sale— 321.8 
Total assets$3,535.4 $3,756.3 
   
Liabilities and Shareholders’ Equity
Current liabilities

Notes payable$34.2 $29.5 
Accounts payable230.7 219.7 
Other current liabilities338.7 311.1 
Current liabilities held for sale— 5.2 
Total current liabilities603.6 565.5 
Long-term debt1,245.0 1,383.3 
Deferred income tax liabilities79.6 118.8 
Other liabilities147.3 135.6 

Total liabilities2,075.5 2,203.2 

   
Shareholders’ equity
Preferred shares, $0.01 par value, 10,000,000 authorized; none issued or outstanding
— — 
Common shares, $0.01 par value, 300,000,000 authorized; 65,251,989 issued; 46,081,326 and 46,464,244 outstanding
0.7 0.7 
Additional paid-in capital1,569.7 1,578.8 
Retained earnings1,002.1 1,086.7 
Common shares in treasury at cost, 19,170,663 and 18,787,745
(997.5)(1,003.3)
Accumulated other comprehensive loss(115.1)(109.8)
Total shareholders’ equity1,459.9 1,553.1 
Total liabilities and shareholders’ equity$3,535.4 $3,756.3 

See accompanying Notes to Condensed Consolidated Financial Statements.

EDGEWELL PERSONAL CARE COMPANY
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited, in millions)

Nine Months Ended
June 30,

20262025
Cash Flow from Operating Activities
Net (loss) earnings$(62.6)$56.0 

Depreciation and amortization59.0 65.6 
Share-based compensation expense14.7 18.8 
Loss on sale of assets1.4 1.7 

Impairment charges37.4 — 
Loss on assets held for sale2.2 — 
Deferred compensation payments(2.3)(2.4)
Deferred income taxes(39.8)(0.5)
Other, net8.3 (12.2)

Changes in operating assets and liabilities28.8 (82.7)
Net cash provided by operating activities47.1 44.3 
   
Cash Flow from Investing Activities
Proceeds from sale of business338.9 — 
Capital expenditures(41.2)(49.4)
Collection of deferred purchase price on accounts receivable sold3.3 5.6 
Other, net— (1.5)
Net cash provided by (used in) investing activities301.0 (45.3)
   
Cash Flow from Financing Activities
Cash proceeds from debt with original maturities greater than 90 days398.0 774.0 
Cash payments on debt with original maturities greater than 90 days(538.0)(678.0)
Net proceeds from (payment of) debt with original maturities of 90 days or less3.1 (0.8)
Repurchase of shares(15.8)(90.2)
Dividends to common shareholders(21.5)(22.4)
Employee shares withheld for taxes(2.9)(7.4)
Net financing inflow from the Accounts Receivable Facility2.7 14.2 
Other, net(0.3)(0.3)
Net cash used in financing activities(174.7)(10.9)
   
Effect of exchange rate changes on cash(2.0)2.4 
   
Net increase (decrease) in cash and cash equivalents171.4 (9.5)
Cash and cash equivalents, beginning of period225.7 209.1 
Cash and cash equivalents, end of period$397.1 $199.6 

See accompanying Notes to Condensed Consolidated Financial Statements.

EDGEWELL PERSONAL CARE COMPANY
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
(unaudited, in millions)

Common SharesTreasury Shares
NumberPar ValueNumberAmountAdditional Paid-In CapitalRetained EarningsAccumulated Other Comprehensive LossTotal Shareholders' Equity
Balance at September 30, 202565.2 $0.7 (18.8)$(1,003.3)$1,578.8 $1,086.7 $(109.8)$1,553.1 
Net loss— — — — — (65.7)— (65.7)
Foreign currency translation adjustments— — — — — — 3.2 3.2 
Pension and postretirement activity— — — — — — 0.6 0.6 
Deferred loss on hedging activity— — — — — — 1.5 1.5 
Dividends declared— — — — — (7.0)— (7.0)

Activity under share plans— — 0.3 18.7 (18.2)— — 0.5 
Balance at December 31, 202565.2 $0.7 (18.5)$(984.6)$1,560.6 $1,014.0 $(104.5)$1,486.2 
Net loss— — — — — (10.6)— (10.6)
Foreign currency translation adjustments— — — — — — (12.0)(12.0)
Pension and postretirement activity— — — — — — 0.3 0.3 
Deferred gain on hedging activity— — — — — — 1.2 1.2 
Dividends declared— — — — — (7.6)— (7.6)
Repurchase of shares— — (0.7)(15.1)— — — (15.1)
Activity under share plans— — — 1.9 3.8 — — 5.7 
Balance as of March 31, 202665.2 $0.7 (19.2)$(997.8)$1,564.4 $995.8 $(115.0)$1,448.1 
Net earnings— — — — — 13.7 — 13.7 
Foreign currency translation adjustments— — — — — — (1.6)(1.6)
Pension and postretirement activity— — — — — — 0.4 0.4 
Deferred loss on hedging activity— — — — — — 1.1 1.1 
Dividends declared— — — — — (7.4)— (7.4)

Activity under share plans— — — 0.3 5.3 — — 5.6 
Balance at June 30, 202665.2 $0.7 (19.2)$(997.5)$1,569.7 $1,002.1 $(115.1)$1,459.9 

Common SharesTreasury Shares
NumberPar ValueNumberAmountAdditional Paid-In CapitalRetained EarningsAccumulated Other Comprehensive LossTotal Shareholders' Equity
Balance at September 30, 202465.2 $0.7 (16.3)$(937.9)$1,586.0 $1,090.1 $(154.8)$1,584.1 
Net earnings— — — — — (2.1)— (2.1)
Dividends declared— — — — — (7.1)— (7.1)
Foreign currency translation adjustments— — — — — — (48.3)(48.3)
Pension and postretirement activity— — — — — — 0.4 0.4 
Deferred loss on hedging activity— — — — — — 5.0 5.0 
Repurchase of shares including excise tax— — (0.8)(30.1)— — — (30.1)
Activity under share plans— — 0.3 23.3 (24.2)— — (0.9)
Balance at December 31, 202465.2 $0.7 (16.8)$(944.7)$1,561.8 $1,080.9 $(197.7)$1,501.0 
Net earnings— — — — — 29.0 — 29.0 
Dividends declared— — — — — (7.6)— (7.6)
Foreign currency translation adjustments— — — — — — 23.0 23.0 
Pension and postretirement activity— — — — — — 0.3 0.3 
Deferred loss on hedging activity— — — — — — (2.8)(2.8)
Repurchase of shares including excise tax— — (1.1)(35.2)— — — (35.2)
Activity under share plans— — — 0.7 5.5 — — 6.2 
Balance at March 31, 202565.2 $0.7 (17.9)$(979.2)$1,567.3 $1,102.3 $(177.2)$1,513.9 
Net earnings— — — — — 29.1 — 29.1 
Foreign currency translation adjustments— — — — — — 53.5 53.5 
Pension and postretirement activity— — — — — — 0.5 0.5 
Deferred loss on hedging activity— — — — — — (3.7)(3.7)
Dividends declared— — — — — (7.0)— (7)
Repurchase of shares including excise tax— — (0.9)(24.6)— — — (24.6)
Activity under share plans— — — 0.1 6.2 — — 6.3 
Balance at June 30, 202565.2 $0.7 (18.8)$(1,003.7)$1,573.5 $1,124.4 $(126.9)$1,568.0 

See accompanying Notes to Condensed Consolidated Financial Statements.

EDGEWELL PERSONAL CARE COMPANY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(unaudited, in millions, except per share data)

Note 1 - Background and Basis of Presentation
Background
Edgewell Personal Care Company and its subsidiaries (collectively, “Edgewell” or the “Company”) is one of the world’s largest manufacturers and marketers of personal care products in the wet shave and sun and skin care categories. With operations in over 20 countries, the Company’s products are widely available in more than 50 countries. 
The Company conducts its business in the following two segments:
•Wet Shave consists of products sold under the Schick®, Wilkinson Sword®, Edge, Skintimate®, Billie®, Shave Guard brands and our custom brands group (formerly sold under our Shave Guard and Personna® brands), as well as non-branded products. The Company’s wet shave products include razor handles and refillable blades, disposable shave products, and shaving gels and creams. 
•Sun and Skin Care consists of Banana Boat® and Hawaiian Tropic® sun care products, Jack Black®, Bulldog® and Cremo® men’s and women’s grooming products, Billie women’s grooming products and Wet Ones® products.
See Feminine Care Divestiture in the Basis of Presentation section below for information regarding discontinued operations.
Basis of Presentation
The accompanying unaudited Condensed Consolidated Financial Statements include the accounts of the Company and its controlled subsidiaries and have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) under the rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”). The preparation of the unaudited Condensed Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities, disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses. Actual results may differ materially from those estimates. All intercompany balances and transactions have been eliminated in consolidation and, in the opinion of management, all normal recurring adjustments considered necessary for a fair statement have been included in the interim results reported. 

The fiscal year-end balance sheet data was derived from audited consolidated financial statements, but do not include all of the annual disclosures required by GAAP; accordingly, these unaudited Condensed Consolidated Financial Statements should be read in conjunction with the Company’s audited annual consolidated financial statements included in its Annual Report filed with the SEC on November 18, 2025.
Amounts and percentages presented in this Quarterly Report on Form 10-Q have been rounded. Accordingly, certain totals may not sum due to rounding.
Feminine Care Divestiture
On November 12, 2025, we entered into an agreement to sell, and on February 2, 2026 we closed the sale of our Feminine Care segment to Essity, a leading global health and hygiene company based in Sweden for $340.0. In accordance with applicable accounting guidance, the results of the Feminine Care segment are presented as discontinued operations in the Condensed Consolidated Statements of Earnings and Comprehensive Income and, as such, have been excluded from both continuing operations and segment results for all periods presented. Further, the Company reclassified the assets and liabilities of the Feminine Care disposal group as assets and liabilities held for sale in the Condensed Consolidated Balance Sheet as of September 30, 2025. The Condensed Consolidated Statements of Cash Flows are presented on a consolidated basis with both continuing operations and discontinued operations. All amounts, percentages and disclosures for all periods presented reflect only the continuing operations of Edgewell unless otherwise noted. See Note 2 for additional information.

Recently Issued Accounting Pronouncements
In September 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. ASU No. 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. This ASU modernizes the capitalization criteria for internal-use software by eliminating references to project stages and clarifying the threshold applied to begin capitalizing costs. This guidance is effective for the 

Company for fiscal years beginning after December 15, 2027. The Company is currently assessing the impact of this new guidance.
In November 2024, the FASB issued ASU No. 2024-03 Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40). Additionally, in January 2025, the FASB issued ASU 2025-01 to clarify the effective date of ASU 2024-03. ASU 2024-03 provides guidance to expand disclosures related to the disaggregation of income statement expenses. The standard requires, in the notes to the financial statements, disclosure of specified information about certain costs and expenses which includes purchases of inventory, employee compensation, depreciation, and intangible asset amortization included in each relevant expense caption. This guidance is effective for fiscal years beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027, on a retrospective or prospective basis, with early adoption permitted. We are currently evaluating this ASU to determine its impact on our consolidated financial statements and disclosures.
In December 2023, the FASB issued ASU No. 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures to update income tax disclosure requirements primarily by requiring specific categories and greater disaggregation within the rate reconciliation and disaggregation of income taxes paid by jurisdiction. The amendments in the ASU also remove disclosures related to certain unrecognized tax benefits and deferred taxes. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024. The amendments may be applied prospectively or retrospectively and early adoption is permitted. We are currently assessing the impact of the requirements on our consolidated financial statements and disclosures.
No other new accounting pronouncement issued or effective during the fiscal year had, or is expected to have, a material impact on our Consolidated Financial Statements.
Recently Adopted Accounting Pronouncements
In November 2023, the FASB issued ASU No. 2023-07 Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures to expand reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments in the ASU require that a public entity disclose, on an annual and interim basis, significant segment expenses that are regularly provided to an entity's chief operating decision maker (“CODM”), a description of other segment items by reportable segment, and any additional measures of a segment's profit or loss used by the CODM when deciding how to allocate resources. Annual disclosures are required for fiscal years beginning after December 15, 2023. Interim disclosures are required for periods within fiscal years beginning after December 15, 2024. Retrospective application is required for all prior periods presented and early adoption is permitted. The Company adopted this ASU as of the fourth quarter of fiscal year 2025. The adoption of this ASU did not have a material effect on the consolidated financial statements. Refer to Note 18 for additional information regarding the Company’s segment reporting.

Note 2 - Discontinued Operations
On February 2, 2026, we closed the sale of our Feminine Care segment to Essity and received proceeds of approximately $340.0 on a cash-free and debt-free basis. In the first quarter of fiscal 2026, the assets and liabilities of the segment were classified as held for sale and the segment’s results are presented as discontinued operations. This change was applied on a retrospective basis. As of the date we determined the Feminine Care segment to be held for sale, we tested the assets within the disposal group, including goodwill, for impairment and recorded a goodwill impairment loss of $37.4. Fair value of the reporting unit was determined under a market approach and based on the offer received to purchase the disposal group, a Level 3 fair value input.
The following table presents the financial results of Feminine Care included in Earnings (loss) from discontinued operations, net of tax for the three and nine months ended June 30, 2026 and 2025:

Three Months Ended June 30,Nine Months Ended June 30,
2026202520262025
Net sales$— $66.8 $87.3 $194.2 
Cost of products sold— 48.3 64.1 137.3 
Gross Profit— 18.5 23.2 56.9 
   
Selling, general and administrative expense— 3.7 14.7 9.9 
Advertising and sales promotion expense— 4.4 3.5 14.2 
Research and development expense— 0.6 0.9 1.6 
Restructuring charges— 1.0 0.2 1.5 
Impairment charges— — 37.4 — 
Operating Profit (Loss)— 8.7 (33.5)29.7 
Loss on assets held for sale— — 2.2 — 
Earnings (loss) from discontinued operations before income taxes— 8.7 (35.7)29.7 
Income tax (benefit) provision on discontinued operations(1.4)1.1 14.0 5.8 
Earnings (loss) from discontinued operations, net of tax$1.4 $7.6 $(49.7)$23.9 

The following table reconciles the gross proceeds with the loss on assets held for sale included in (Loss) earnings from discontinued operations, net of tax:

Nine Months Ended
June 30, 2026
Gross proceeds (1)
$338.9 
Less direct costs to sell9.5 
Less carrying amount331.6 
Loss on assets held for sale$2.2 

(1) Includes gross proceeds of $340.0, net of purchase price adjustment of $1.1.
In the second quarter of 2026, upon derecognizing the net assets of the disposal group because of the closing of the transaction, we finalized the calculation of the loss on assets held for sale reflective of a final purchase price adjustment, transaction costs and revised carrying amounts at the sale date. 

The following table presents the carrying amounts of assets and liabilities that were classified as held for sale on the Consolidated Balance Sheet as of September 30, 2025:

September 30, 2025
Inventories$50.9 
Other current assets8.7 
Current assets held for sale59.6 
   
Property, plant and equipment, net74.3 
Goodwill154.0 
Other intangible assets, net93.1 
Other assets0.4 

Non-